HCM City, 8th March, 2018
PRESS RELEASE
The U.S. Department of Commerce released today the preliminary results of the 12th administrative review of the antidumping order on frozen warmwater shrimp from Vietnam. The calculated rate for the sole mandatory exporter, Sao Ta Seafoods Joint Stock Company (FIMEX VN), was announced as 25.39%. Because FIMEX was the only mandatory respondent in the proceeding, its rate was also deemed to be the appropriate rate for all other companies that Commerce decided were independent of the Vietnamese Government. FIMEX VN, the Vietnam Association of Seafood Exporters and Producers (VASEP), and all of its members are very concerned about this result and believe that it was issued in error.
For multiple years now, Vietnamese exporters have been examined during the administrative review process and none of them have received a dumping margin higher than a single-digit percentage rate. Indeed, FIMEX VN was examined in the 9thadministrative review and received a rate of 0%. “We are shocked by this result”, said Mr. Luc, FIMEX VN’s General Director. “We expected a rate of less than 2%, consistent with the result we received in the 9th review. Clearly, the Commerce Department made a mistake. Fortunately, this is only a preliminary decision, and we have the opportunity to show Commerce why this rate is obviously wrong.”
Indeed, careful analysis of the Commerce Department dumping margin program shows that they applied a conversion factor from headless to head-on shrimp incorrectly. If the conversion had been applied correctly, the margin would be only 1.19%.
FIMEX VN was scheduled to have a verification with U.S. Commerce Department officials in January, but the verification was postponed due to the U.S. Government shutdown. “We were ready for that verification, and I am sure we would have shown Commerce Officials why our rate was much lower”, said Mr. Luc. The verification has been rescheduled to July this year, and there will also be an opportunity to argue in briefs why the decision was made in error. VASEP and FIMEX VN are confident the rates announced today will be reduced in the final results expected to be issued in September. In the meantime, fortunately, the preliminary rate has no effect; it is only announced in order to allow the parties to argue why it is correct or not. No new rate will be imposed until the final results are issued./.
(seafood.vasep.com.vn) In recent years, the US has consistently been Vietnam’s largest seafood export market. Over the past five years, seafood export turnover to the US has ranged from 1.5 billion USD to 2.1 billion USD anually. Despite facing strict protective policies such as anti-dumping and countervailing duties, U.S. market demand remains high, and the quality of Vietnamese seafood continues to improve, helping to maintain and expand its position in this market.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
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VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
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